AstraZeneca has announced that MedImmune, its global biologics R&D arm, has agreed to acquire Amplimmune, a privately-held, Maryland-based biologics company focused on developing novel therapeutics in cancer immunology.

The acquisition will bolster MedImmune’s oncology pipeline by obtaining multiple early-stage assets for its immune-mediated cancer therapy (IMT-C) portfolio, including AMP-514, an anti-programmed cell death 1 (PD-1) monoclonal antibody (mAb). AMP-514 is currently in late-stage preclinical development with the aim of an IND filing before the end of 2013. Other Amplimmune assets include multiple preclinical molecules targeting the B7 pathways. MedImmune’s oncology research is focused on IMT-C, a therapeutic approach that may lead to durable and prolonged response rates across a range of cancer types. IMT-Cs are being designed to empower the immune system to counteract the tactics employed by cancer cells to avoid detection and attack the body.

MedImmune will acquire 100% of Amplimmune’s shares for an initial consideration of $225 million and deferred consideration of up to $275 million based on reaching predetermined development milestones. The proposed transaction is subject to customary regulatory approvals and is expected to close in the third quarter of 2013.